He's made billions in the past 24 hours — and become the wealthiest person on the planet.

Top Dog

Earlier this morning, we reported that mercurial billionaire Elon Musk was approaching the extraordinary milestone of becoming the wealthiest person on Earth. Now, just an hour later, it appears that he's already accomplished that goal, as Bloomberg reports.

According to Bloomberg's Billionaire Index, surging Tesla shares inflated Musk's net worth to a dizzying $188.5 billion as of Thursday morning.

Tesla Bump

Tesla share prices rallied another 4.8 percent following an already immensely successful year. Share prices surged 743 percent in 2020 alone, according to Bloomberg.

According to the Index, Musk is now worth $1.5 billion more than Amazon founder Jeff Bezos. Bezos has held the top position since October 2017.

Shifting Sands

The news also comes after Musk blew past Bill Gates’ net worth on the Index late last year.

Investors predict Tesla's gravy train will keep going this year, especially now that Democrats have taken control of both houses of Congress. The Democratic Party has been far more inclined to advocate for the electrification of cars than Republicans, and that will likely mean boom times for Tesla.

READ MORE: Elon Musk Surpasses Jeff Bezos to Become World’s Richest Person [Bloomberg]

More on the saga: Elon Musk Poised to Become the Richest Person in the World

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